RE LEE NIM WAI formerly known as LEE NIM WAI DAVID

RE LEE NIM WAI formerly known as LEE NIM WAI DAVID

Bankruptcy order was made because the debtor failed to comply with statutory demands and is therefore deemed unable to pay under s.6A(1)(a) BO; the debtor's late application to file notices out of time was unjustified; the alleged future receipt of funds was speculative, unsupported by documents and not a cash or readily realisable asset in the debtor's hands, so adjournment was refused; costs of the successful later petitioner (Mitsubishi) were ordered to be treated as an expense of the bankruptcy.

Citation
[2024] HKCFI 1843
Parties
Judgment Creditor (petitioner): Orix Asia Limited; Creditor (petitioner): Mitsubishi HC Capital (Hong Kong) Limited; Judgment Debtor (debtor): Lee Nim Wai; Official Receiver: Official Receiver
Court
Court of First Instance
Jurisdiction
Hong Kong
Judgment Date
12 July 2024
Case Number
HCB2582/2024
Procedural Posture
Bankruptcy Petitions (hcb 5893/2023 and HCB 2582/2024) / Hearing and Judgment (usual Bankruptcy Order Made)
Outcome
Usual bankruptcy order made in HCB 5893/2023 against Lee Nim Wai; application to file notices of intention to oppose out of time refused; adjournment of petitions refused
Legal Topics
Statutory Demand, Bankruptcy Order, Deemed Inability to Pay, Adjournment Applications, Costs in Bankruptcy
Source Language
EN
Bankruptcy Insolvency Civil Procedure Debt Enforcement Statutory Demand Bankruptcy Order Deemed Inability to Pay Adjournment Applications +1 more

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Parties

Orix Asia Limited

Judgment Creditor (petitioner)

Mitsubishi HC Capital (Hong Kong) Limited

Creditor (petitioner)

Lee Nim Wai

Judgment Debtor (debtor)

Official Receiver

Official Receiver

Procedural Posture

Bankruptcy Petitions (hcb 5893/2023 and HCB 2582/2024) / Hearing and Judgment (usual Bankruptcy Order Made)

Legal Issues

  1. 1 Whether the debtor is deemed unable to pay under s.6A(1)(a) BO by failing to comply with statutory demands
  2. 2 Whether leave to file a notice of intention to oppose out of time should be granted
  3. 3 Whether the debtor's assertion of future receipt of funds constitutes a reasonable prospect of payment to justify adjournment

Ratio Decidendi

Bankruptcy order was made because the debtor failed to comply with statutory demands and is therefore deemed unable to pay under s.6A(1)(a) BO; the debtor's late application to file notices out of time was unjustified; the alleged future receipt of funds was speculative, unsupported by documents and not a cash or readily realisable asset in the debtor's hands, so adjournment was refused; costs of the successful later petitioner (Mitsubishi) were ordered to be treated as an expense of the bankruptcy.

Court Disposition

Usual bankruptcy order made in HCB 5893/2023 against Lee Nim Wai; application to file notices of intention to oppose out of time refused; adjournment of petitions refused

Orders

  • Usual bankruptcy order made in HCB 5893/2023 against Lee Nim Wai
  • Application for leave to file notices of intention to oppose out of time refused